Palm Coast sees 9.29% preliminary rise in taxable value; council asks staff to model a —210 rollback option

City budget staff presented the Truth in Millage (TRIM) timeline and June preliminary property valuations that indicate a 9.29% increase in taxable value for fiscal year 2025–26, with about 5.27 percentage points attributable to new construction.

Gwen Ragsdale, budget procurement manager, and Helena Hobbs, financial services director, explained that at the current fiscal year millage of 4.1893 the preliminary numbers would generate about $43 million in ad valorem revenue and roughly $3.7 million in additional revenue versus the prior year; new construction accounts for approximately $2.1 million of that increase. Staff reminded council that the property appraiser will certify final taxable values by July 1 and that council must adopt the tentative maximum millage within 35 days of certification.

Councilmembers asked staff to model a “tenth‑of‑a‑mill” rollback scenario (reducing the rate by 0.10 mills) for the July 8 presentation so the council could compare the revenue and program impacts before setting the maximum millage. Staff also noted Palm Coast’s millage is among the lower rates for Florida cities in the same population band and provided a breakdown showing the city receives roughly 23 cents of every property tax dollar paid by homeowners; the largest recipient is the county.

Staff will return to council with updated certified taxable values on July 1 and the requested rollback scenarios during the July budget workshops. The council flagged the July 8 meeting for a general fund presentation and noted the TRIM and millage timetable in advance of public hearings in September.